Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Receives $9.60 Consensus PT from Brokerages

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) has received a consensus rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $9.60.

A number of equities research analysts have recently commented on BDTX shares. Raymond James Financial upgraded Black Diamond Therapeutics to an “outperform” rating and set a $11.00 target price on the stock in a research report on Tuesday, July 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Black Diamond Therapeutics in a research note on Wednesday, October 8th. HC Wainwright decreased their price target on shares of Black Diamond Therapeutics from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. Stifel Nicolaus began coverage on shares of Black Diamond Therapeutics in a research note on Wednesday, October 15th. They issued a “buy” rating and a $8.00 price target on the stock. Finally, Zacks Research lowered shares of Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. R Squared Ltd purchased a new position in Black Diamond Therapeutics in the 2nd quarter worth approximately $25,000. Hudson Bay Capital Management LP purchased a new position in Black Diamond Therapeutics in the 2nd quarter worth approximately $26,000. Cerity Partners LLC purchased a new position in Black Diamond Therapeutics in the 2nd quarter worth approximately $26,000. Wealth Enhancement Advisory Services LLC purchased a new position in Black Diamond Therapeutics in the 2nd quarter worth approximately $28,000. Finally, American Century Companies Inc. purchased a new position in Black Diamond Therapeutics in the 2nd quarter worth approximately $30,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Black Diamond Therapeutics Stock Down 3.6%

NASDAQ:BDTX opened at $3.96 on Friday. Black Diamond Therapeutics has a 52 week low of $1.20 and a 52 week high of $4.45. The stock has a market capitalization of $225.48 million, a PE ratio of 17.22 and a beta of 3.07. The stock’s 50-day moving average price is $3.32 and its 200-day moving average price is $2.60.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its earnings results on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.06. Sell-side analysts expect that Black Diamond Therapeutics will post -1.3 earnings per share for the current fiscal year.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc, a clinical-stage oncology medicine company, focuses on the discovery and development of MasterKey therapies for patients with genetically defined tumors. The company's lead product candidate is BDTX-1535, a brain-penetrant epidermal growth factor receptor MasterKey inhibitor, which is in phase 2 clinical trial for the treatment of epidermal growth factor receptor mutant non-small cell lung cancer, as well as phase 1 clinical trial to treat glioblastoma.